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Monday, March 20, 2017

Section 80EE - HOME LOANS





Repayment of the principal amount of a home loan is allowed as tax deduction under Section 80C. This deduction is available on payment basis irrespective of the year for which the payment has been made. The amount paid as stamp duty and registration fee is also allowed as a deduction under Section 80C.


A tax break for payment of interest on home loans is allowed under Section 24. The maximum tax deduction allowed under Section 24 of a self-occupied property is `2 lakh.


Section 80EE provides for an additional deduction of `50,000 for interest on home loans for first-time buyers. In this case, the loan amount should be below `35 lakh and the value of the house should be below `50 lakh.




Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 10 Tax Saver Mutual Funds for 2017 - 2018

Best 10 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. ICICI Prudential Long Term Equity Fund

5. Birla Sun Life Tax Relief 96

6. Franklin India TaxShield 

7. Reliance Tax Saver (ELSS) Fund

8. BNP Paribas Long Term Equity Fund

9. Axis Tax Saver Fund

10. Birla Sun Life Tax Plan



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For further information contact SaveTaxGetRich on 94 8300 8300

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